English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

CMA CGM signs US$1 billion agreement with China

PRESS RELEASE

July 01, 2015: During the official visit of Chinese prime minister Li Kepiang to CMA CGM Group headquarters, the company signed a financing framework agreement with the Chinese bank CEXIM and a strategic partnership with China Merchants (CMHI) on the "One Belt, One Road" project initiated by the Chinese government.

CMA CGM and the Export-Import Bank of China (CEXIM) have signed a framework agreement on financing solutions for a total of up to US$1 billion in the form of loans and/or export credit insurance. Those solutions would be available for the future vessels and containers the group may order in China. Those investments are essential to accompany the CMA CGM Group's development strategy.

Historically, The CMA CGM Group has been ordering most of its containers from the Chinese group CIMC, and more recently started to place orders to Chinese shipyards for some of its containerships.

Over the second semester this year, the CMA CGM Group will take delivery from Chinese shipyards of three 18,000 TEUs vessels. Those will be the Group's largest vessels and the largest to have ever been built by Chinese shipyards. They will be named after great explorers – including the CMA CGM Zheng He, named after China's most famous explorer.

The China Merchants (CMHI) and CMA CGM will sign a strategic partnership to investigate and evaluate, as their priority, the investment opportunities to develop the strategic "One Belt, One Road" project - a high profile strategy initiated by the Chine government to develop many infrastructure and ports-related logistics projects.

Initiated by the Chinese Government and its President, it aims to: create a land axis between China and Europe via Russia; and create a 21st century silk road that will link South East Asia to Oceania, East Africa, North Africa and Europe by the sea, in order to secure imports and exports to and from China.


In a separate announcement, CMA CGM reminds customers that as of July 1st, 2016, the Safety of Life at Sea Convention (SOLAS) requirements regarding the verification of the gross mass of packed containers will be applicable.

A packed container will not be allowed to be loaded on board vessels to which the SOLAS Convention applies unless the Verified Gross Mass (VGM) of the container has been provided to the ship's master or his representative and to the terminal or its representative sufficiently in advance to allow for the edition of the loading plan.

The responsibility for obtaining and documenting the Verified Gross Mass of a packed container lies with the shipper.

The Verified Gross Mass means the total gross mass of a packed container as obtained by one of the two methods:

#1 – Using calibrated and certified equipment, the shipper (or a third party duly appointed by him) weighs the packed container at the end of the stuffing operation once the seal is affixed.

#2 - The shipper (or a third party, by arrangement with the shipper) weighs all packages, cargo items, pallets, dunnage and other packing and securing material and adds the tare mass of the container. The total sum finally obtained is the weight to be provided. This method is subject to certification and approval by the competent authority of the State in which the packing and sealing of the container was completed.

If the Verified Gross Mass is not provided, the container will not be loaded onto the ship.

More News

Written on 28/04/2017, 17:00
maersk-line-gets-go-ahead-to-purchase-hamburg-suedCOPENHAGEN: APRIL 28, 2017. Maersk Line is to go ahead with the purchase of Hamburg Süd for €3.7 billion in cash following Board approval by both...
Written on 26/04/2017, 19:33
miami-makes-more-of-pharma-freightMIAMI: April 26, 2017. MIA Pharma Hub partner LATAM Cargo has become the first airline in America to receive IATA's Center of Excellence for Independent...
Written on 26/04/2017, 18:40
india-s-largest-container-port-opensMARSEILLE/ AHMEDABAD: April 25, 2017. CMA CGM and the Adani Ports Special Economic Zone (APSEZ) are to operate India's latest and largest container...
Written on 26/04/2017, 14:07
qatar-airways-adds-two-more-u-s-destinationsDUBAI, UAE: April 24, 2017. Qatar Airways is to begin service to San Francisco and Las Vegas next year. Other additions to its network in 2018 will...
Written on 26/04/2017, 00:10
gothenburg-avoids-landfill-in-major-new-terminalGOTHENBURG: April 25, 2017. In its largest expansion project since the 1970s, the Port of Gothenburg is to build a 220,000 sq. mt. terminal at the outer...
Written on 25/04/2017, 20:54
waco-system-adds-azerbaijan-memberLONDON: April 24, 2017. Trans Global Projects (TGP) has joined the WACO System global forwarder network as a member for Azerbaijan. Founded in the UK as...
Written on 25/04/2017, 20:38
bahrain-airline-to-operate-new-boeing-conversionWILMINGTON, OH. April 25, 2017. Bahrain-based Texel Air is the launch customer for a new conversion program by Pemco World Air Services for the...
Written on 25/04/2017, 19:43
cma-cgm-begins-indonesia-u-s-west-coast-direct-serviceJAKARTA: April 23, 2017. The CMA CGM 'Otello' has become the largest container vessel to call at the Jakarta International Container Terminal (JICT) at...
Written on 25/04/2017, 17:13
pegasus-adds-four-russian-destinations-from-londonLONDON STANSTED: April 25, 2017. Pegasus Airlines is launching new B737-800 services from London Stansted to four destinations in Russia plus Abu Dhabi,...
Written on 25/04/2017, 16:26
jd-com-to-offer-smart-supply-chain-servicesBEIJING: April 25, 2017. JD.com, China's other online retailer, has launched JD Logistics to provide smart supply chain and logistics services to a wide...
Written on 21/04/2017, 15:35
walmart-launches-gigaton-elimination-goalBENTONVILLE, AR: April 20, 2017. Walmart has launched 'Project Gigaton' to encourage its suppliers to help eliminate one billion tonnes of greenhouse gas...
Written on 20/04/2017, 19:00
samskip-grows-perishables-businessROTTERDAM: April 20, 2017. Samskip is to acquire New Jersey-based freight forwarder Rimar Consultants to expand the perishables business of its U.S....
Written on 19/04/2017, 21:26
airbus-to-trial-autonomous-drone-with-singapore-postSINGAPORE: April 18, 2017. Airbus Helicopters and Singapore Post (SingPost) are to begin trials of the Airbus Skyways drone project at the National...
Written on 18/04/2017, 21:39
niledutch-uses-ai-for-predictive-logisticsSAN FRANCISCO/ROTTERDAM. April 18, 2017. Africa box carrier and breakbulk specialist NileDutch is to use ClearMetal AI and predictive logistics technology...
Written on 18/04/2017, 18:29
united-airlines-arrives-at-watershed-momentCHICAGO: April 17, 2017. United Airlines has reported a 69.3 percent drop in net income to US$96 million for the first quarter of 2017, on a 2.7 percent...
Written on 18/04/2017, 17:54
teamsters-reach-new-airline-agreementsPURCHASE, NY: April 17, 2017. Teamsters union flight dispatchers at Atlas Air and Polar Air Cargo have voted to extend their contract with the two...
Written on 13/04/2017, 14:25
not-your-usual-award-ceremonyAMSTERDAM: April 12, 2017. The Royal Schiphol Group has recognized its business partners who have distinguished themselves through innovative business...
Written on 12/04/2017, 20:51
deutsche-post-doubles-electric-mail-fleetBONN: April 11, 2017. Deutsche Post DHL is to expand production of its StreetScooter postal service electric van from 10,000 to 20,000 units in response...
Written on 12/04/2017, 19:07
delta-cargo-weathers-2017-first-quarterATLANTA: April 12, 2017. Delta Air Lines has reported a 36 percent fall in net income to US$603 million for the first quarter of 2017 compared to the...
Written on 11/04/2017, 20:50
russia-to-begin-all-weather-lng-shipping-via-northern-sea-routeSABETTA, Russia: April 11, 2017. The world's first ice-breaking LNG tanker, named after former Total head Christophe de Margerie, has berthed at Russia's...

- powered by Quickchilli.com -